Itron Raises Profit Outlook While Revenue Growth Remains Uneven

Itron Inc. (NASDAQ: ITRI ) shares traded lower on Wednesday after surging 23% to $104.51 on Tuesday. The rally followed better-than-expected second-quarter adjusted EPS and a raise of fiscal 2026 adjusted EPS guidance above estimates. The stock is trading lower after investors digest the revenue outlook. Earnings And Margins Adjusted EPS of $1.59 beat the $1.29 estimate, while revenue fell 7.2% year over year to $562.9 million, missing the $566.1 million estimate. GAAP diluted EPS declined to $1.19 from $1.47, while adjusted EPS slipped from $1.62. Net income attributable to Itron fell 22% to $53.3 million, pressured by lower interest income and a higher effective tax rate. Adjusted gross margin expanded 460 basis points to 41.4% on favorable product and customer mix, operational efficiencies and cost discipline. Adjusted operating income rose 8% to $89.1 million, while adjusted EBITD...